Section 43 — Canada Pension Plan: Pension Index for subsequent years

Subject to subsection (2), the Pension Index for each year shall be calculated, in prescribed manner, as the average for the twelve month period ending October 31 in the preceding year of the Consumer Price Index for each month in that twelve month period. For any year for which the calculation required by subsection (1) yields a Pension Index that is less than the Pension Index for the preceding year, the Pension Index shall be taken to be the Pension Index for the preceding year. Where at any time the Consumer Price Index is adjusted to reflect a new time basis or a new content basis with a resulting percentage adjustment being made in the figures for that Index, a corresponding percentage adjustment shall, at the time of the next calculation of the Pension Index, be made in all values then existing of the Pension Index.